Loan accounts turned NPA
The Pradhan Mantri Mudra Yojana, which was designed to support small business owners and self-employed individuals, is facing a major hurdle in Ghaziabad. Bank data reveals that 37688 loan accounts have now been classified as NPA (Non-Performing Assets), resulting in 205 crore rupees of bank capital getting stuck.
Loan distribution data
According to bank officials, the scale of lending under this scheme in the district is significant:
- Total number of beneficiaries: Approximately 1 lakh 20 हजार people.
- Total loan amount distributed: Nearly 1264 crore rupees.
Consequences for borrowers
The Lead Bank Manager of Ghaziabad, Budh Ram, stated that these accounts were declared NPA due to prolonged non-payment of installments. Officials have warned that failing to repay these loans has long-term repercussions for the borrowers:
- CIBIL score damage: Continuous defaults significantly lower credit ratings.
- Future financing: It becomes difficult to obtain home loans, vehicle loans, or business expansion credit in the future.
Loan categories under the scheme
The Pradhan Mantri Mudra Yojana provides financial assistance across several categories:
- Shishu: Up to 50 हजार rupees.
- Kishore: 50 हजार to 5 लाख rupees.
- Tarun: 5 लाख to 10 लाख rupees.
- Tarun Plus: 10 लाख to 20 लाख rupees.
Appeal to beneficiaries
Bank management has urged all loan holders to clear their outstanding dues immediately to maintain a healthy account status. Officials emphasized that timely repayment is essential for maintaining individual financial credibility and ensuring the overall stability of the banking system.
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